[November 12, 2009] Global Telecom & Technology reports net income for Q3 2009 over loss last year Tweet Nov 12, 2009 (M2 EQUITYBITES via COMTEX) -- Wide-area network and mobility services provider Global Telecom & Technology Inc (GTT) (OTCBB:GTLT.OB) on Wednesday reported a net income for the third quarter of 2009 of USD392,000, or USD0.03 per diluted share. This compares to the net loss for the third quarter 2008 of USD41.6m, or USD2.78 loss per diluted share. GTT's revenue for the third quarter was USD16m compared to the revenue of USD16.9m last year. Adjusted EBITDA for the third quarter was USD1.2m, up by 47% compared to USD815,000 in the same prior year quarter. Richard D Calder Jr, president and chief executive officer said, "Now that we are operating at a quarterly Adjusted EBITDA level in excess of USD1m, we are ready to begin scaling the business and drive operational leverage through the acquisition of companies with complementary networking services. Our recently announced definitive agreement to acquire WBS Connect is an important step toward creating a much larger, more profitable company." Comments on this story may be sent to [email protected] [ Back To TMCnet.com's Homepage ]